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Rover's Dog Care has outstanding debt currently selling for $820 per bond. It matures in 9 years, pays interest semiannually, and has a coupon rate

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Rover's Dog Care has outstanding debt currently selling for $820 per bond. It matures in 9 years, pays interest semiannually, and has a coupon rate of 8%. If par is $1,000 and the tax rate is 38%, what is the after-tax cost of debt? The after-tax cost of debt for Rover's Dog Care is % (Round to two decimal places.)

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